ACIT, New Delhi V. Sh. Jagjit Kaur, New Delhi

ITA 2398/DEL/2015

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 6909 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 3 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-07-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC 3
• Next Hearing Date: 19-07-2016
• Assessment Year: 2010-2011
• Appeal Filed On: 23-04-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ANIMA BARNWAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: SMC-3 NEW DELHI BEFORE SMT DIVA SINGH, JUDICIAL MEMBER I.T.A .NO.-239 8/DEL/2015 (ASSESSMENT YEAR- 2010-11) ACIT, CIRCLE-41(1), ROOM NO.1705, 17 TH FLOOR, E-2, CIVIC CENTRE, MINTO ROAD, NEW DELHI-110002. (APPELLANT) VS JAGJIT KAUR, K-98, LAJPAT NAGAR-II, NEW DELHI-110024. PAN-AGEPK1858Q (RESPONDENT) APPELLANT BY MS. ANIMA BARNWAL, SR DR RESPONDENT BY NONE ORDER THE PRESENT APPEAL HAS BEEN FILED BY THE REVENUE AS SAILING THE CORRECTNESS OF THE ORDER DATED 30.01.2015 OF CIT(A)-18, NEW DEL HI PERTAINING TO 2010-11 ASSESSMENT YEAR ON THE FOLLOWING GROUNDS: ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW THE LD.CIT(A) HAS ERRED IN (I) ACCEPTING THE LOSS OF RS.32,16,119/- AS BUSINESS LO SS ON ACCOUNT OF INTEREST PAID ON LOAN THOUGH THERE WAS N O BUSINESS TRANSACTION DURING THE YEAR. (II) THE APPELLANT CRAVES THE RIGHT TO ADD, ALTER OR AME ND ANY GROUND OF APPEAL. 2. NO ONE WAS PRESENT ON BEHALF OF THE ASSESSEE. I N VIEW OF THE FACT THAT THE APPEAL WAS OF THE REVENUE THE LD. SR. DR WAS REQUIR ED TO ADDRESS WHETHER THE PRESENT APPEAL IN VIEW OF CIRCULAR NO.21/2015 DATED 10TH DECEMBER, 2015 OF CBDT WAS MAINTAINABLE. ON GOING THROUGH THE RECORD IN THE PASS OVER, THE LD. SR. DR SUBMITTED THAT CONSIDERING THE TAX RATES FOR 1999-2000 AY THE TAX EFFECT INVOLVED IS MUCH LESS THAN RS.10 LAKH. ACCORDINGLY THE DEPARTMENTAL APPEAL MAY BE TREATED AS NOT PRESSED. IN THE LIGHT OF THE SUB MISSIONS AND PERUSAL OF THE RECORD, THE DEPARTMENTAL APPEAL IS DISMISSED. THE CBDT VIDE THE AFORESAID CIRCULAR DATED 10.12.2015 HAS REVISED THE MONETARY LIMIT TO RS.10 LAKH FOR FILING DATE OF HEARING 19.07.2016 DATE OF PRONOUNCEMENT 27.07.2016 I.T.A .NO.-239 8/DEL/2015 PAGE 2 OF 2 THE APPEAL BY THE DEPARTMENT BEFORE INCOME TAX APPE LLATE TRIBUNAL. PARA 3 OF THE AFORESAID CIRCULAR FIXING THE MONETARY LIMIT HAS BE EN MADE APPLICABLE VIDE PARA 10 RETROSPECTIVELY. CONSIDERING THE SETTLED LEGAL PRE CEDENT THAT THE BOARDS INSTRUCTIONS OR DIRECTIONS ISSUED TO THE INCOME TAX AUTHORITIES U/S 268A OF THE INCOME TAX ACT, 1961 ARE BINDING ON THE AUTHORITIES , THE DEPARTMENTAL APPEAL IS DISMISSED. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. THE ORDER IS PRONOUNCED IN THE OPEN COURT ON 27 TH JULY, 2016. SD/- (DIVA SINGH) JUDICIAL MEMBER *AMIT KUMAR* COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSI STANT REGISTRAR ITAT NEW DELHI